Skip to main content

tv   All In With Chris Hayes  MSNBC  November 10, 2014 5:00pm-6:01pm PST

5:00 pm
they need to be familiar with our form of government to get things done to make this a better country. the next two years are a time to deliver on that hope. that's "hardball" for now. "all in requests with chris hayes starts right now. >> tonight on "all in." >> i'm going to do what i can do through executive action. >> the president doubles down on immigration. >> impeachment would be a consideration. >> and house republicans put impeachment on the table. >> i'm urging the federal communications commission to do everything they can to protect that neutrality for everyone. >> the president's net neutrality bomb shell provokes a ted cruz response for the ages. tonight, republicans not sure what to do about the obama lame duck offenses. then, protesters in new mexico set fire to the ppt resident sh palace. the latest turn in minnesota
5:01 pm
pointer gate and matt pietta on his latest big bank takedown. "all in" starts right now. >> good evening. i'm chris hayes. if there was any question how president obama would respond to the drubing the democrats took in the midterms, it's growing clearer by the day that he has no intention of giving ground to the central political fights he staked out by his own past attempts to come to the negotiating table. president obama seems to be signaling the time to make concessions has long since pass. case in point, his call to action is possible protections to keep the internet open and free, an issue that's been a rallying point for progress efs. >> i'm urging the federal communications commission to do everything they can to protect net neutrality for everyone. they should make it clear that whether you use a computer, phone or tablet, internet providers have a legal obligation not to block or limit your access to a web site.
5:02 pm
>> that announcement comes right after what is the most politically explosive proposal in washington right now. executive action on immigration. in an interview with cbs over the weekend, he laid out the case he's making to house speaker john boehner. >> i preferred and still prefer to see it done through congress. but every day that i wait, we're misallocating resources, we're deporting people who don't need to be deported and john, i'm going to give you some time, but if you can't get it done before the end of the year, i'm going to have to take the steps that i can to impruf the system. >> president obama's position is improving leadership threats off of their victory to confront the same problem that vexed this white house for years until the administration finally learned to accept it and moved on. the gop's right wing wants confrontation with the president. it wants to defeat him politically. certain lawmakers are already
5:03 pm
threatening revolt over the proposed action information. government funding expires only a month from now. mitch mcconnell says he's hoping to pass an omnibus spending bill when he assumes control. ted cruz and five other conservative memberings are threatening to derail to block the president's executive actions. they wrote a letter warning him of his intention to "use all procedural means necessary to resolving the constitutional crisis created by president obama's lawless am mes cinestam" president obama's nominee lynch to replace attorney genric holder. reactions like these explain why mitch mcconnell and john boehner have been pleading with the government to hold off on any unilateral moves nomination.
5:04 pm
if it seems like overkill, just wait until you hear what's being floeted on the house side as a response to the president's an tis pated action. >> the only way to stop this guy if he moves forward is impeachment. is that likely on the table? 15 seconds. >> impeachment is diety in the house. but you still have to convince the senate and that takes a two-thirds vote. but impeachment would be a consideration, yes, sir. >> joining me now, an aide to senator ted kennedy and spokesperson for majority leader harry reid. all right, jim, you know mitch mcconnell well. you know his staff well. put yourself in mitch mcconnell's brain trust for a moment. how are you trying to gain this out right now. it seems to me the best day in mitch mcconnell tenure as majority leader was probably election night. and everything after that is now going to be downhill as he a
5:05 pm
tries to ostensibly out play folks like ted cruz. >> about salutely. that's why i was interested to see mcconnell's spokesman, dodge stuart, called out senator cruz and said on the record that cruz is nothing more than a one-man army. they're smart enough to recognize that they have a problem on their hand and to try to isolate him. but the fact of the matter is, all of the energy and enthusiasm come from the far right of that caucus. that's something that he's going to have to try to manage as he tries to deal with people, a whole bunch of them, for that matter, that are up in 2016, who are going to want to put legislative points on the score board. >> i think it's pretty fascinating to watch how this is developing. the president reiterating time and time again that he's going to do this. in some ways, it's a very unbarack obama-like kind of move. he's basically throwing the
5:06 pm
gaunt lent down. what do you think their game theory model of how this plays out in the white house is. >> oh, in the white house? i think think they recognize that this is the only thing that they're going to do in that, you know, they've got to move forward. if not, there's going to be hell to pay. number one. number two, i hope that we're long passed the time where they try and cut deals with these congressional leaders. and so they might as well just go for it and stand on principle and do the right thing. you know, republicans, maybe, are trying to think that, well, the presidential redline in syria is going to maybe back down. but, again, i think we both agree that this is not going to happen this time around. >> i thought it was unintentionally revealing when mitch mcconnell revealed that the executive action would be like waving a red cape in front of a bull.
5:07 pm
he was pleading with the president where if you do this, i won't be able to -- it's one of these things where you have throwing around impeachment, it seems completely plausible to me there will be a strong push in the house towards impeachment if the president decides to do this. >> i've been on the record for the past several months if, in fact, the president goes forward. there is a strong group of republicans within that caucus that do not trust the president, do not respect the legitimacy of the election. and, for some strange reason, think that they've got a mandate in 2014 which i sdis agree with, where the president with the yielgts of america. as you know, chris, the only two votes that the house took this year were on steve king.
5:08 pm
so, yes, boehner is smart enough to realize that and mcconnell is smart enough to realize this. this could potentially get very, very dissill. so quickly, what happened. do we get a spending bill? or are we going to have confrontation sooner or later? >> i've got five bucks that says we're going to kick the can down the road and get ready for the new year. remember, there's all sorts of deadlines coming up next year, including the debt limit. there's going to be a controversial fight over an attorney general nominee. i think that's why boehner is not going to do any legislative business until december 1, allegedly. >> right. jim manly, i have you down for five bucks on the bill. thank you very much. >> thank you. >> the president made some big and surprising news today on an
5:09 pm
issue that has been somewhat under the radar on the public's imagination. but maybe the single most policy fight. and that issue is net neutrality. it's become the subject of extended negotiations between lobbyists, politicians and regulators with literally billions and billions of dollars at stake. on one hand, companies like comcast, my employer and the owner of this network, that want the ability to charge different prices to deliver different lefls levels of broad band service. and on the other hand,others who want all web content to be on equal footing. the debate comes down to one fundamental question. what exactly is the internet? is it a premium service? something that people can live without? something like cable tv? or is it more like a public utility that everyone depends on and gets the same access to
5:10 pm
regardless how they use it, like electricity. the president came out that it's like electricity saying that the internet is a strong component of modern citizenship. >> cable companies can't let any company pay for priority over its competitors. to put these protections in place, i'm asking the fcc to reclass by internet service under title two of a law known as the telecommunications act. in plain english, i'm asking them to recognize that for most americans, the internet has brk an essential part of everyday communication and everyday life. >> now, the president itself doesn't get to decide how the government treats the internet. as he indicated, that is up to the federal communication agency that's expected to have a new rule sometime in the next year. they received comments from a
5:11 pm
record breaking 3.7 people, more than 99% of them in favor of keeping the net neutralities. joining me now, federal special asis tant for president obama. she's author of commissioner of the federal communications commission under presidents obama and george w. bush. mr. mcdowel, i'll start with you, were you surprised by today's announcement? and how big of a deal is it? >> it's a big deal. when the president of the united states looks into the camera and tells the president to do something, the f.c.c. is going to listen. i can't think of a time where we've seen this much white house action influence it. so it's a very big deal with a little surprise that this came out today by the president of the united states? you bet. >> susan, do you feel the same way? >> i definitely feel it's a big deal. but i'm not at all surprised at the end. the president is a man of deep prings pl. and he understands, just as you
5:12 pm
said, this is electrify case for the country. and that of the four companies that may be unhappy, 330 million americans want to be sure that the companies make the choices fr them. >> you think this is a bhad idea and you actually were in a position to sit on the commission and study it. what is the case against it? as i have to say, it seems really airtight, this sort of equality principle. and there's lots of people's leave where there's elly engineers of the internet who really favor very strongly they tend to carry a lot of weight with them. what's the case? >> i respected susan crawford very much and respectfully disagree on this particular issue. but first of all the, nothing is broken in this marketplace that needs fixing by the government. if something is broken, let's do a bona fide peer review study. if something is broken, there
5:13 pm
are already ample laws on books to fix it. that's why we have the open and enhancing freedom of the internet that we have today. there are over a thousand requirements of title 2. and the fcc to fore bear most of them, that is not apply most of them while it keeps the internet open and free, that's going to be pretty risky an appeal. it's not going to be good. >> the first argument here, which i think is interesting, is basically the status quo is working. there's nothing broken with the market of broad band provision in the u.s. i guess it's true. you look at all of the remarkable tax star-ups and apps and stocks that are happening in the tamerican economy. do you agree with that? >> i don't.
5:14 pm
look at chairman tom wheeler's speech where he said that 70% or more of americans, their only choice for 25 megabits per second is their local cable company. so we've got -- >> so for 70% of people that want to get high speed internet access, it's their local cable provider. >> that's it. that's the only choice. what's happened over the last ten years, we've seen enormous consolidation and, frankly, division of markets to where the only choice is your local cable guy. and they are under no supervision. the president is saying let's make sure that the f.c.c.'s legal authority is secure so it can create rules. that's all that's going on here. he's made a very bods and correct statement. >> when she says there is no supervision, that's actually not true. there are a number of laws to be used against cable companies or wireless broad band providers if
5:15 pm
they were to be anticompetitive. there's certainly the anti-trust laws. the play to spar would have a field day. state attorneys general would have a field day. there's a whole arsenal of legal weapons that consumer advocates and consumers themselves could bring against these isps. that's why we have not seen this systemic market failure. that's why we've done this market analysis that can be put on for further comment. >> i will say this, robert. i think if you were -- not that this should control in this area of policy, but if we were to poll the american people about this question, i do feel like the results would come down more in susan's favor. and that doesn mean that they're right about that. but there does seem to be -- it does seem to be a recuring troep about people's frustration in this particular sector. susan, my question to you and
5:16 pm
the final question here is there's a sense in which this has been portrayed by folks as yourself as a david versus goliath. but isn't it the case where there's this huge multi-billiion dollar corporation who are lined up because they don't want their ox to be gored, as well. >> actually, every american business is on the other side. in that group are a few very large, online companies. every group wants to be sure that it can reach its customers with inexpensive access. we all need a cop on the beat. that's what the president is saying. making sure the legal authority is sound. he's doing the right thing. >> i want you to tell me the validity of ted cruz's response today who comes down on the same side of you in which he describes as obama care for the internet. is that true and what does that mean. >> i don't know if it's true because i don't know what it means. but none the less, if he
5:17 pm
disagrees with this notion, i don't know about that. >> thank you both. >> thank you so much. nice to be here. >> a top republican strategist spills the penalbeans on why he thinks the democrats have lost so badly. turns out, i'm right. i'll tell you what he said ahead. goodnight. goodnight. for those kept awake by pain... the night is anything but good. introducing new aleve pm. the first to combine a safe sleep aid. plus the 12 hour strength of aleve. for pain relief that can last until the am. now you can have a good night and a... good morning! new aleve pm. for a better am. ♪ [ male announcer ] united is rolling out global, satellite-fed wi-fi
5:18 pm
to connect you even 35,000 feet over the ocean. ♪ that's...wifi friendly. ♪
5:19 pm
a block buster new piece that alleges one of the biggest banks in this country was ripping off investors while the government looked the other way. i'll talk to the journalist who broerk the story ahe. blnk blnk your signature, you could drive home for the holidays in a german-engineered volkswagen. like the sporty, advanced new jetta and the well-crafted all-new golf. if you're wishing for a new volkswagen this season just about all you need is a finely tuned... pen. get zero due at signing, zero down, zero deposit and zero first month's payment on select new volkswagen models.
5:20 pm
5:21 pm
. >> there have been times when we have not been successful. so there is a failure of politics there that we've got to improve on. squl the president is owning up to everyone that the republicans definitely demonstrated some kind of failure. who is the question. an important one to resolve as the president tries to regroup what his approach will be moving forward. some rendered the decision of many democrats to distance himself from president obama ended upping wiend ed up being pretty disastrous. a new endorsement of that theory comes from an unlikely source.
5:22 pm
they felt the economy was their best message. bill curry wrote a piece and maybe you can guess why it caught my eye. it argued es the president has become a whole and candidates distancing themselves were a symptom other than a cause. nice to have you here. >> great to be here. >> so you think it goes deeper than the decision to sort of separate themselves from barack obama which did alienate because barack obama remains very popular. how robotic and calculated their party appears. this is an explanation of too many problems that he didn't get
5:23 pm
hiss story out. almost every time he's been asked in the last few years want's gone wrong, we have the right policy but we couldn't get the story out. tim geitnerened e in his recent book said that he hadn't gotten his story out. you want to say no, tim, not because you give bad speeches. it's because everybody's mortgages are still under waterer six years later. and when you go back and trace this from the beginning, i think that there are a set of choices that have been made that created the right wing populism. >> so but i feel like that's -- i'm tempts to believe that because i think you and i share similar politics. when you look at clinton, clinton precipitated this huge right wing backlash. and so there's a certain amount that you see baked into a cake. it's going two phase, right wing populous backlash.
5:24 pm
>> i think there's a lot of truth in what you jst said. i think the truth of this election is worse than it seems. bill clinton, the model sen tryst of his time, when you have these kinds of fights over policy, bob right was in the room. joe stigma was on the room. bob rubin got his way more often. but there was a genuine debate. this is the most conservative economic policy since grover cleveland. it's not just a punch line. >> i don't think that's true. i don't think you can look at obamacare and say that. let me say this, also. even if you -- let's take tim geitner. the problem with tim is the policy and not the speeches. but on obamacare, right, i
5:25 pm
think, look, is it the perfect health care law? no. but it's doing good stuff for good people. it's fndmentally redistributed and is going to endure for a long time. and it's also fundamentally not popular. but you can't look at that and say -- to me, my big feeling about obamacare is maybe this is just the way the country's politics are. you get good stuff done and they punish you for it. >> first of all, in a sense, that's the core defense of the most loyal supporters. from now on, this is as good as it gets. so you betterer lower your expectations. at some point, we have to begin solving these prons. as a part of that argument, it always comes back to this question of narrowment. first, figure out what you
5:26 pm
believe and then learn how to tell people about it. we stopped putting the progressive, i think, in particular, are the first on the list here. who needs to do what. and that is that throughout our history, all important social reform has come from grass roots, progressive, independent progressive movements that didn't think their first job was to apologize for wayward democrats, but rather to hold all politicians acountable. we happen to have an enormous amount of progress that we need in this country because that stopped them from being. and those movements became just washington-based lobbyists who saw the world through subcommittee. >> so here's one movement that does live up to that. i think it's a fairly, in many ways, certain parts of it are quite militant. there's just a known meeting about a very tense meeting, one of them getting an e-mail saying i don't work for you. they've been pretty mill tantd. they've been pretty active.
5:27 pm
and what they are facing is that there's a huge, again, there's a big right wing part of this country that doesn't want to see immigration move forward, right? >> first of all, presidential elections are all like football games. more than 60%. you never get less than 40%. and there is a huge part of the country that feels as you've described. but it's not the majority. a majority supports all that you described. and in the second thing, as in so many cases. the president here is interestingingly alive with corporate america against the republicans: corporate america was with the president on shutdown. they were with the president on education and immigration reform. what my problem is, i look at the administration, when they're not with you, i don't see you pushing as hard. and you e go back to the health care thing. the best parts about health departmentcare is it increased medicaid for low income people
5:28 pm
and brought eight or nine people under coverage and weren't going to get it. the wrs part is it grandfathered the insurance industry in. >> i want to talk to you about some point in the future about obamacare. i could go for an hour. thank you very hutch for coming. >> one of the most ridiculous and embarrassing corrections i've ever seen brought to you by conservative brad bart dot com. stick around. 6 we use natural gas roughout the airport - for heating the entire terminal, generating electricity on-site, and fueling hundreds of vehicles. we're very focused on reducing our environmental impact. and natural gas is a big part of that commitment. [ male announcer ] you wouldn't ignore signs of damage in your home. are you sure you're not ignoring them in your body?
5:29 pm
even if you're treating your crohn's disease or ulcerative colitis, an occasional flare may be a sign of damaging inflammation. and if you ignore the signs, the more debilitating your symptoms could become. learn more about the role damaging inflammation may be playing in your symptoms with the expert advice tool at crohnsandcolitis.com. and then speak with your gastroenterologist. with the expert advice tool at crohnsandcolitis.com. i make a lot of purchases foand i get ass. lot in return with ink plus from chase. like 50,000 bonus points when i spent $5,000 in the first 3 months after i opened my account. and i earn 5 times the rewards on internet, phone services and at office supply stores. with ink plus i can choose how to redeem my points. travel, gift cards, even cash back. and my rewards points won't expire. so you can make owning a business even more rewarding. ink from chase. so you can.
5:30 pm
you pay your auto insurance premium every month on the dot. you're like the poster child for paying on time. and then one day you tap the bumper of a station wagon. no big deal... until your insurance company jacks up your rates. you freak out. what good is having insurance if you get punished for using it? hey insurance companies, news flash. nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. see car insurance in a whole new light.
5:31 pm
. we are back and we take this moment to look at two stories from the category of sad,
5:32 pm
ridiculous moments. the fallout continues over the agreous lit hit base one local affiliate. we brought you the news of this first when it started when kstp reported that mayor bet sill hodges had been flashing a known gang sign of a convicted felon. >> this is a photo of minneapolis mayor arm-in-arm with a man flashing what law enforcement agencies tell us is a known gang sign for a north side gachk. as you can see, at the center of the controversy, gordon, who does have a criminal record, but has been an organizer of the group called neighborhoods organizing for change for the bast two years. the group intentionally hires people with criminal backgrounds wo have served their time.
5:33 pm
eliminates any mention of the amazing civic ep gaugement work and reduces him to an anonymous, scary black man. for the time being, kstp stands by its story. now, in other news, formally we'd just end it there. but, tonight, we have a specific example. now, over the weekend, the president officially nominated this woman to replace eric holder as the country's next attorney general. ms. lynch is an experienced prosecutor with an impressive resume and has been through the process twice before. thankfully, a crack team got to the bottom of who loretta lynch really is. she was a member of the clinton legal team during the whitewater probe.
5:34 pm
she even had a link naming lynch as one of two lawyers representing. just one problem with that. the woman who offered legal council of the clintons during white water is a different loretta lynch. here is that loretta lynch. this one went onto become california's public utilities commissioner and is not the loretta lynch who can become the first african american woman to serve as attorney general. sometimings, people might share the same name. but, remarxblely enough, they e they are not the same person. take chris hayes, me and chris hayes of saint lewis. me, but two totally different people. see, the word correction is tucked into the headline which remained obama's attorney general nominee loretta lynch. and the update reading correction, loretta lynch identified earlier as the whitewater attorney was, in fact, a different attorney.
5:35 pm
eventually, the article was taken down all together. if not, the folks should let the development run. uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approach. now you and your ameripise advisor can get the real answers you need. well, knowing gives you confidence. start building your confident retirement today. ["mony mony" by billy idole she cokicks in on car stereo]y". ♪don't stop now come on mony♪ ♪come on yeah ♪i say yeah ♪yeah ♪yeah ♪yeah ♪yeah ♪yeah ♪yeah ♪'cause you make me feel like a pony♪ ♪so good ♪like your pony ♪so good
5:36 pm
♪ride the pony the sentra, with bose audio and nissanconnect technology. spread your joy. nissan. innovation that excites. [singing] ♪mony mony you can't breathe through your nose, suddenly, you're a mouth breather. a mouth breather! well, put on a breathe right strip and shut your mouth. cold medicines open your nose over time, but add a breathe right strip and pow, it opens your nose up to 38% more. so you can breathe and do the one thing you want to do, sleep. add breathe right to your cold medicine shut your mouth and sleep right. breathe right. and look for the calming scent of new breathe right lavender, in the sleep aisle. to map their manufacturings at process with sticky notes and string, yeah, they were a little bit skeptical. what they do actually is rocket science. high tech components for aircraft and fighter jets. we're just their bankers, right? but financing from ge capital also comes with expertise from across ge.
5:37 pm
in this case, our top lean process engineers. so they showed us who does what, when, and where. then we hit them with the important question: why? why put the tools over there? do you really need those five steps? what if you can do it in two? whoo, that's an interesting question. ideas for improvement started pouring out. with a little help from us, they actually doubled their output speed. a hundred percent bump in efficiency. if you just need a loan, just call a bank. but at ge capital, we're builders. and what we know... can help you grow. many americans who have prescriptions fail to stay on them. that's why we created programs which encourage people to take their medications regularly. so join us as we raise a glass to everyone who remembered today. bottoms up, america.
5:38 pm
see you tomorrow. same time. another innovation from cvs health. because health is everything. . protests continue to rock mexico sdi city as many fear the worst. a group of protesters manage to light a door at the president's ceremonial palace on fire. this as out rage continues over the alleged massacre of missing students. police opened fire on a group of student activists on a training college. six people were killed. 25 wounded. yesterday, the body of another student turned up. the signature of a mexican organized crime assassination. 42 43 students remain unaccounted for.
5:39 pm
those 43 students are believed to have been rounded up by local police on the orders of the mayor and turned over to members of a local drug gang. the attorney general says the bodies were so badly burned, it would be difficult to extract the dna needed to properly identify. the latest atrocity has spoken up against the drug lords of mexico and were so intwined with the mexican state. after meeting with the president, i am the father of a boy, for me, who has not disappeared. for me, why does this government act like this. we are not sheep to be killed whenever they feel like it. on friday, mexico's attorney general held a press conference announcing an arrest in the case. he was hoping to bring calm to the out rage citizen ri of the country. an off-the-cuff remark that only made matte ers worse
5:40 pm
. that comment has now become a rallying cry by protesters and corruption and violence in mexico. joining me now, my colleague who has been covering the story. jose, can you tell us what we kneeow happened with these students? it seems so implausible to capture them and hand them over to drug lords. >> if it weren't so tragic, it would be a bad joke. and, unfortunately, it's not a choke. what happened was these kids were at the air port, an international airport shut down for five hours or so by the protesters. but let me take you back to the 26th of september. a group of kids from the small town who are preparing, on the 26th of september, a trip to go to mexico city on the second
5:41 pm
october which is the anniversary of the 1968 massacre of students by the federal government. so they had gone to another town to ask for money. well, the town mayor, whose wife was having some public activity that day was called by the wife and aparentally, said you know what, i'm pretty p.o..ed that these kids are all over the streets asking for money when i have a public affair. so aparentally, the mayor called the cops and said round them up and get rid of them. so they did what the mayor asked. they rounded them up and handed them over to a narco thug group that works with the police. that's where we are today. no trace of the students. but they have found other unmarked mass graves throughout the entire area which just goes to show if you look for innocent bodies, you're going to find them in mexico. because until you look for specifics, you're going to find
5:42 pm
generalities. see, this -- first of all, the facts here seem so gruesome. but they're also against the context in which we -- there have been thousands and thousands of deaths that have done things that would make isis blush. i mean, really, trust true, true atrocities. what is it about this case that has seemed to kind of spark this uprising across the country. >> that's a great question. think it's because it really struck a nerve. maybe i want's because it's one drop over a drop over a drop in the glass of tears, the tears of uncounted deathings of mexicans tlout the yearings who have put their quota of blood in this war against the narco cartels. and the narco cartels exist to send drugs up north so that north american drug consumers can consume elicit drugs. and so the amount of blood that's being shed here is just
5:43 pm
unfathomable. so maybe, just maybe, this last -- think about this. 43 college kids. picked up by a mayor. and then disappeared by police. >> so has the mayor been brought up on charges? >> yeah, yeah, the mayor disappeared after the 26th of september with his wife. and then he was picked up just outside the capital, which is about 120 miles from here, the center of mexico city. he was picked up on the out skirts of town with his wife. and he is apparently in a maximum security prison. but the kids, no sign of the kids. and think about it. think about it. if an american town, kids, came out to ask for money and a mayor acceptability over the cops and the cops sent him over to drug cartel people who made them disappear. >> yeah,that was -- >> think about that. >> jose, in mexico, thank you
5:44 pm
for being down there and covering this story. thank you for making time for that. really appreciate it. >> be sure to catch jose's new show "the daily rundown" which premiers a week from today. she has been called jp morgan chase's worst nightmare. the woman is blowing the whistle on the biggest bank in the country and she will be here, along with the journalist who broke that story ahead. goodnight. goodnight.
5:45 pm
for those kept awake by pain... the night is anything but good. introducing new aleve pm. the first to combine a safe sleep aid. plus the 12 hour strength of aleve. for pain relief that can last until the am. now you can have a good night and a... good morning! new aleve pm. for a better am. so i can reach ally bank 24/7, but there are24/7branches? it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates.
5:46 pm
so ally bank really has no hidden fethat's right. accounts? it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees, from the bank where no branches equals great rates. mi'm a lineman and troubleman. i work out of the stockton division. been married seven years. i got two kids. this is where i want to raise my family. pg&e lineman, our job is to keep the power on so that our customers can go about their daily lives. if there's an emergency, we'll get the lights back on. i grew up in ripon and i've traveled the world with the military we can use that work ethic that the military instills in you to make a better employee. it feels great to work in the community that i grew up in. i'm proud to work for pg&e. we keep the power on.
5:47 pm
>> a new bomb shell investigative piece. a firsthand, eyewitness account from a whistle blower about one of the biggest banks in the world. about how that bank knowingly ripped off investors by selling them securities they knew were worthless garbage and how the
5:48 pm
government pretty much let them get away with itment i'm going to talk to the whistle blower who saw it all firsthand ahead. ♪ mmm mmm mmm mm mmm mm mmmmmm here we go, here we go, here we go. ♪ fifty omaha set hut ♪ losing feeling in my toes ♪ ♪ nothing beats that new car smell ♪ ♪ chicken parm you taste so good ♪ ♪ nationwide is on your side
5:49 pm
♪ mmm mmm mmm mm mmm mm mmmmmm and cialis for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use
5:50 pm
and a free 30-tablet trial. ask your doctor about cialis for daily use which means it's time thfor the volkswagens here, sign-then-drive event. for practically just your signature, you could drive home for the holidays in a german-engineered volkswagen. like the sporty, advanced new jetta and the well-crafted all-new golf. if you're wishing for a new volkswagen this season just about all you need is a finely tuned... pen. get zero due at signing, zero down, zero deposit and zero first month's payment on select new volkswagen models. bonjour. comment ce va? bonjour. comment ce va? due cappuccini, per favore. domo... arigato? arigato united flies to more destinations than any other airline. namaste. over 5100 daily flights to nearly 60 countries. namaste. plus, over 230 us cities. dessert? pee-can pie. pecan? yeah. okay. in any language, that's...gateway to the world friendly.
5:51 pm
a wake-up call. but it's not happening out there. it's happening in here. [ sirens wailing ] inside of you. even if you're treating your crohn's disease or ulcerative colitis, an occasional flare may be a sign of damaging inflammation. learn more about the role damaging inflammation may be playing in your symptoms with the expert advice tool at crohnsandcolitis.com. and then speak with your gastroenterologist. it's not something that jp morgan simply signed a check and smiling said this is a good deal for us. this inflicts pain on that institution. >> that was attorney genric holder after the bank jp morgan chase agreed what was billed as a $13 billion settlement for
5:52 pm
having securities the bank sold and knew were basically junk. holder himself cited in announcing that very settlement, said the government effectively let jp morgan chase get away with massive, criminal fraud. joining me now is that whistle blower. >> so, matt, the journalist who wrote this, just give me the basics of the story. what did they do wrong and what happened? >> so, back during the boom years, when everybody was getting a mortgage and lenders like country wide were going to neighborhoods and giving mortgages to everyone whether they could afford it or not. banks like chase were buying these on mass and basically chopping them up and reselling them to investors and hedge funds. and elaine essentially works as
5:53 pm
a kind of quality control officer. she was in charge of making sure that these loans were good loans. >> i like to think of it as the financial version of a hot dog. you take it, you chop it up and put it in the case, that this is good stuff. this is premium fillet mignon. and you know that it's not. >> she was in charge of making sure it wasn't ro rotten, dangerous meet. >> so you remember set e. >> basically, wlapd, there's one deal in particular when it first came in without even seeing any of the loans or anything at all, there was the loans that were simple that you immediately knew something was wrong because we always pack an and sell these things within about two to three months. and then soon after, actually saying 40% of the loans in this
5:54 pm
pool have overstated incomes to the point where we can't sell these to investors. >> managers basically review the files to make sure that the loans are up to the quality that they're supposed to be. >> so you've got to say hey, we're going to sell this stuff. we're going to make a lot of money on it. were you guys just okay with it? you were one that was supposed to be like oh, looks good, looks good, looks good. and then you would say no, no, no, this is no good. >> that's exactly right. and then the whole deal stopped for exactly three weeks when the manager said we can't clear these loans. what happened was they were just basically yelled at and berated and finally gave in and realized they were being overruled. >> are these people above in the management structure? >> the people who were doing that -- >> the parading. >> yeah, the supervisor. that was the supervisor of these diligence managers and, also, the really strange thing that happened is the sales managing director came in art e and
5:55 pm
started pushing things forward. >> he's literally looking at a check that's going to end up in a bank account and say it's the next day to say yes. and she's saying what the heck is wrong with you? what's wrong with me is these loans are garbage and this is fraud. and they're sail e say, well, i don't care. >> more yelling until they gret the answer that they want. until they realized that they want these pushed through. douching this period, it's common to what was all of these. >> yeah, exactly. this was going on everywhere. but what's interesting is that for years and years and years, the justice department has been telling us this e these cases have been really hard to prove. we can't get the evidence. that's why we're not pushing any prosecutions. but now we have clearly pruf e proof and evidence. and it's obvious that they could make a case, if they want to. >> that's not true, though. these right-hand turn hard cases to make. you're going to put them up on
5:56 pm
the stand, they're going to come after you hard. are you going to have people krob rate you? or are you going to have people say oh, no, that's a malt content. >> they look like they're hard cases, but they're not. to take the green point deal that i'm talking about -- >> this is the deal in question that we're talking about here? >> yeah, it's the one that gets discussed in the piece, not necessarily the only one. there were eel e e-mails and reports that were ignored, you know, there's a letter that sets out exactly who did what and what's wrong in our diligence process and how that's going to cause problems in the security. so these are not difficult. apart from the fact that there's myself in there, there's a wall street journal article that reports another person on it saying that we were blowing pass e passed our sboernl warning. >> so there's a detail in that e there that struck out so much. about, like, sort of directed not to use e-mail. that he keep things out of writing. >> yeah, that was the first sign of something gone very wrong.
5:57 pm
when this new diligence supervisor came in. he said he wouldn't send e-mails and he wouldn't let us send e-mails. >> let's keep in mind, this is in a modern workplace. in a compliance department. >> yes. >> and the key point, especially when you're talking about securities law, is that you're supposed to be keeping a record so that if something goes wrong, look, we did everything right. >> i talked to a prosecutor and that was my opening statement with. >> you also talked about how one regulator is going to okay it. he's sort of putting his hands up and saying okay, okay, ork and shaking his head. >> that was actually in the meeting. they were just pushed into doing it. this is actually in a man curist loan.
5:58 pm
the income was posedly 117,000. where as if you look at the salary information, it's 23,000. so these -- >> all right. so then what is the -- so $13 willon today sounds like a lot of money. b, criminal cases are hard to bring. there's not a ton of precedent for big, criminal prosecutions of this huge entity. why isn't this a win for the department of justice? they've got 13 billion tlars and pour some of it into people who were screwed. sounds like everything will come out okay. >> you have to look at it in the whole context of the post crisis. we're talking ant, you know, six years after the crisis for not one person. where as after the snl crisis, over 1,000 people were put on trial. the american parks is picking up about $2.4 billion of that
5:59 pm
check. >> so that means when they file would be a donation, right? you just take it off of your balance sheet and don't pay taxes. >> exactly. when you deduct your speeding tickets, jp morgan chags is dedukting $7 million of the biggest regulatory in history and we are all paying for some of that. yes, it was a huge settlement. but no individual is actually paying that. there's no paying for the people who actually did the deed. >> has wall street changed? >> i highly doubt it. why would they? one of the things that i remember from the time is i couldn't understand why they were doing this. when they were looking at loans that you know were going to go bad. i think part of the problem is they do know they can bring in their lawyers and their pr and their lobbyist and make it go away. so as long as they know they can do that, why would they stop?
6:00 pm
>> that is the key. thank you both for being here. that is "all in" for now. happy monday, rachel. >> happy monday chris. thanks to you at home for joining us. one of the smaller scale controversies of the last president shl administration is that when george w. bush and dick cheney were in the white hougs. a lot of people visited the white house. obviously, most of them are there for white house tours. but when you sign in as a white house visitor for any reason, you sign what is, in effect, a public document. and it's hard cases to argue why public documents like that should be kept secret if georgists or researchers want to figure out who was in the white house on any given day. it is a matter of public record. in the george w. bush administration, those records

22 Views

info Stream Only

Uploaded by TV Archive on